Asked by Anonymous
advisable to pay full amount by CPF or take a bank loan for HDB housing
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1 Answer
Hi,
This is question is more appropriate to be answered by a financial planner than a real estate agent. Anyhow, my take is to capitalize on the low interest rates while it last.
Go for a bank loan that locks you in for no more than 2 years, chances that you'll be paying 1.x% for the mortgage loan while your CPF OA continues to earn 3.5% for the first $20K and 2.5% for the remaining balance.
Until the bank interest rate becomes higher than what you are getting from your CPF, then consider making a full settlement.
Best regards,
Jeron Lee
Jones Lang LaSalle Residential Read More
This is question is more appropriate to be answered by a financial planner than a real estate agent. Anyhow, my take is to capitalize on the low interest rates while it last.
Go for a bank loan that locks you in for no more than 2 years, chances that you'll be paying 1.x% for the mortgage loan while your CPF OA continues to earn 3.5% for the first $20K and 2.5% for the remaining balance.
Until the bank interest rate becomes higher than what you are getting from your CPF, then consider making a full settlement.
Best regards,
Jeron Lee
Jones Lang LaSalle Residential Read More